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27 February 2014

FUSION IP PLC

(the "Company" or "Fusion IP")

Recommended Acquisition of Fusion IP by IP Group plc

Results of Court Meeting and Fusion IP General Meeting

The Fusion IP Board is pleased to announce that, at the Court Meeting and the Fusion IP General Meeting held earlier today in connection with the recommended offer to be made by IP Group for the entire issued and to be issued share capital of Fusion IP not already owned by IP Group (the "Acquisition") to be effected by way of a scheme of arrangement under Part 26 of the Companies Act 2006 (the "Scheme"), Scheme Shareholders voted in favour of the Scheme at the Court Meeting and Fusion IP Shareholders voted in favour of the Fusion IP Resolution at the Fusion IP General Meeting.

Details of the resolutions passed at both the Court Meeting and the Fusion IP General Meeting are set out in the notices of the Court Meeting and the Fusion IP General Meeting contained in the scheme document dated 4 February 2014 relating to the Acquisition (the "Scheme Document") and sent to Fusion IP Shareholders. Unless otherwise defined herein, capitalised terms in this announcement shall have the meanings given to such terms in the Scheme Document.

Voting Results at the Court Meeting

At the Court Meeting, a majority in number of Scheme Shareholders who voted (either in person or by proxy), representing 99.998 per cent. by value of Scheme Shares held by Scheme Shareholders who voted (either in person or by proxy), voted in favour of the special resolution to approve the Scheme.  The special resolution proposed at the Court Meeting was decided on a poll vote.

The result of the poll was as follows:

Number of Scheme Shareholders who voted

Percentage  of Scheme Shareholders who voted (%)

Number of Scheme Shares voted

Percentage of Scheme Shares voted (%)

Number of Scheme Shares voted as a percentage of the issued share capital

For

21

95.45

77,804,895

99.998

71.100

Against

1

4.55

1,383

0.002

0.001

Total

22

100.00

77,806,278

100.000

71.101

Accordingly, the resolution proposed at the Court Meeting was duly passed.

Voting Results at the Fusion IP General Meeting

At the Fusion IP General Meeting, the Fusion IP Resolution was duly passed on a poll vote. The result of the poll was as follows:

Number of Fusion IP Shares voted

Percentage of Fusion IP Shares voted (%)

For

99,910,607

91.30

Against

1,383

0.001

Withheld*

0

0

Total

99,911,990

91.30

* A vote withheld is not a vote in law and counts neither "For" nor "Against" the Fusion IP Resolution.

Timetable and next steps

Completion of the Acquisition remains subject to the satisfaction or, if applicable, waiver of the Conditions (save for the Conditions relating to the approval of the Scheme at the Court Meeting and the Fusion IP Resolution at the Fusion IP General Meeting) set out in appendix 1 to the Scheme Document, including, but not limited to, the satisfaction of certain regulatory Conditions as well as the Court sanction of the Scheme and the Capital Reduction at the Court Hearings.  Furthermore, as clarified by the Company in its announcement dated 24 February 2014, the Acquisition is conditional on the New IPG Shares being admitted to listing on the premium segment of the Official List and to trading on the London Stock Exchange's main market for listed securities.

On the current timetable, the expected date of the Scheme Court Hearing (to sanction the Scheme) is 17 March 2014, with the Scheme becoming effective on 19 March 2014, following the Reduction Record Hearing (to confirm the Capital Reduction).

The last day of dealings in, and for registration of transfers of, Fusion IP Shares is expected to be 18 March 2014, being the Business Day immediately prior to the Reduction Court Hearing, and at 7.30 a.m. on the date of the Reduction Court Hearing (being 19 March 2014), the trading of the Fusion IP Shares on AIM will be suspended.  Prior to the Scheme becoming effective, confirmation will be made to the London Stock Exchange for such shares to cease to be admitted to trading on AIM. It is expected that such cancellation will take place at 7.00 a.m. on 20 March 2014.

As set out in the Scheme Document, the expected date of the Scheme Court Hearing (to sanction the Scheme) and each of the subsequent dates set out in the timetable could be subject to change.  The timetable of the Acquisition will depend on, amongst other things, the date upon which the regulatory Conditions are satisfied or, if applicable, waived.

If any of the key dates set out in the expected timetable change, Fusion IP will notify Fusion IP Shareholders of such change through a Regulatory Information Service and make such announcement available on its website at www.fusionip.co.uk .

A copy of the Fusion IP Resolution and the amended articles of association of the Company will be submitted to the National Storage Mechanism and will thereafter be available for inspection at www.hemscott.com/nsm.do .

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